Debt Collection Merchant Accounts

Why Collection Agencies Choose PayKings

Collection Agency Credit Card Processing & ACH Payments

• ACH payment processing for collections — a lower-cost, bank-to-bank rail that works well for large balances
• Agents key phone payments into a virtual terminal for phone payments
• Recurring billing merchant accounts for installment plans, with securely stored payment credentials
• Debit card and eCheck acceptance for consumers who prefer them

• A multi-bank network. One bank is one point of failure. We place collection merchants across 20+ high-risk acquiring banks.
• Reserve terms in writing before you sign. Know whether a rolling or capped reserve applies, and at what percentage, before you commit.
• Chargeback tooling. Dispute alerts and chargeback mitigation built in, not bolted on.
• Compliance familiarity. Underwriters who already know FDCPA, Regulation F, and Nacha requirements, so your file is presented correctly the first time.

• FDCPA and CFPB Regulation F (12 CFR Part 1006). Regulation F governs how debt collectors communicate with consumers and handle payments; the Consumer Financial Protection Bureau publishes a small-entity compliance guide for it, and the FTC also enforces the FDCPA.
• PCI DSS. Collection agencies handle sensitive consumer financial data on every transaction, so PCI DSS compliance — with tokenization and encryption for stored payment credentials — is a requirement, not a nice-to-have.
• Nacha Operating Rules for ACH. An agency debiting a consumer's bank account must obtain a valid authorization and be able to produce proof of that authorization on request, consistent with the Nacha Operating Rules and Nacha's proof-of-authorization industry practices.
• Regulation E (12 CFR 1005.10) for payment plans. Recurring preauthorized electronic fund transfers from a consumer's account may only be authorized in writing or by a similarly authenticated method, and the consumer must receive a copy of the authorization.